It's an outrageous standard for that industry then. A practice that is intrusive and deceptive in my opinion.
That's just how the shopping mall sector works. On top of that there would be common area expenses which are shared among all the tenants.
Apple probably sends a team of lawyers in and dictates the lease terms which would be quite favourable. The owners jump at it because they're getting an Apple Store. And Apple probably stills pays more rent than most tenants. The sales figures of many Apple Stores have been well known. They are a retailing phenomenon.
it's time that iPhone users and Apple consumers in general leverage our collective buying power to demand that businesses support things like apple pay. we need to organize.
It's been out for 6 months and it's grown extremely quick for anything in technology, but even more impressive considering how many 3rd parties they have to deal with the amount of work they have to include on their end to make this work. This is essentially whitewater rafting and you're yelling for the water not to be stagnant.
Seems like the recorded number of sales could easily be misreported by a store owner.
In Asia I have seen cases where the cash registers in each mall store were operated by employees of the mall owner, to prevent any funny business.
In the U.S., one owner of a mall fast food business told me she pays only a percentage of sales; no base rent. She likes this as it means that when sales are slow, her rent is lower.
I thought Apple has been able to position itself as an anchor store in malls since pretty much right after the first few popped up. They bring in so much traffic that owners can afford to give them substantial discounts and then charge their neighbors more for getting more people around their shops.
I thought Apple has been able to position itself as an anchor store in malls since pretty much right after the first few popped up. They bring in so much traffic that owners can afford to give them substantial discounts and then charge their neighbors more for getting more people around their shops.
I just was reading a piece on the new WTC transportation hub's architect on a site visit to the construction and IIRC the ONLY store in the retail space he mentioned was the "enormous" space already reserved for the Apple store.
The bill for that thing is boggling: $ 4 billion and counting. Ofcourse building something that large, underground, while doing so over running rail lines you couldn't interrupt probably upped the costs somewhat...
Comments
That's just how the shopping mall sector works. On top of that there would be common area expenses which are shared among all the tenants.
Apple probably sends a team of lawyers in and dictates the lease terms which would be quite favourable. The owners jump at it because they're getting an Apple Store. And Apple probably stills pays more rent than most tenants. The sales figures of many Apple Stores have been well known. They are a retailing phenomenon.
It's been out for 6 months and it's grown extremely quick for anything in technology, but even more impressive considering how many 3rd parties they have to deal with the amount of work they have to include on their end to make this work. This is essentially whitewater rafting and you're yelling for the water not to be stagnant.
Seems like the recorded number of sales could easily be misreported by a store owner.
In Asia I have seen cases where the cash registers in each mall store were operated by employees of the mall owner, to prevent any funny business.
In the U.S., one owner of a mall fast food business told me she pays only a percentage of sales; no base rent. She likes this as it means that when sales are slow, her rent is lower.
I thought Apple has been able to position itself as an anchor store in malls since pretty much right after the first few popped up. They bring in so much traffic that owners can afford to give them substantial discounts and then charge their neighbors more for getting more people around their shops.
I just was reading a piece on the new WTC transportation hub's architect on a site visit to the construction and IIRC the ONLY store in the retail space he mentioned was the "enormous" space already reserved for the Apple store.
The bill for that thing is boggling: $ 4 billion and counting. Ofcourse building something that large, underground, while doing so over running rail lines you couldn't interrupt probably upped the costs somewhat...
http://nymag.com/daily/intelligencer/2015/03/santiago-calatrava-world-trade-center-path-hub.html